If you can arrange a visit to see how the tenant is taking care of their current place, that will open your eyes as well.

But ya suck at business, and never really cared about it, it was about getting the $$$$ and seeing where it goes.

If the numbers do not work, be very careful about trying to MAKE them work by taking a little from here and a little from there. 

Building back utilities can increase your income, but it requires careful planning and execution."

The facts are the same as in Example 1, except that B's child turns 13 on February 1, 2008, and B pays for the care provided in January 2008 on February 3, 2008... ...the amount B pays will be an employment-related expense under section 21, because B's child is a qualifying individual when the services are performed, even though the child is not a qualifying individual when B pays the expenses.So we CAN, after all, claim expense up to the birthday day!

PRO TIP: Some counties will work with you as the new "owner" on code violations.

Cost segregation is best for long-term holds and should be carefully planned with a CPA to align with your broader tax strategy.This post does not create a CPA-Client relationship.

Take care!

If you care at all about your future in investing, you need to ask the tenant to rehome them or for her to move.

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.